§    USDA reported on Monday afternoon that only 27% of corn in the 18 selected states had been planted. This compares with 45% the previous year and the average for 2003-07 of 59%.  However, analysts say that we are still on pace to produce trend yields.

§    Eight out of ten Koreans think Korea should renegotiate the deal it has with the United States on opening the market to American beef, and 75.1 percent of Koreans think that American beef is “not safe.” That according to a May 7 poll performed by Dongseo Research of one thousand Koreans over the age of 19. Only 19.9 percent of those surveyed said they think American beef is safe.

§    Heifers have made up 35.8 percent of the placements in 2008, compared to 35.4 percent during the same time frame in 1996-2003 and 2007. In addition, in April heifers made up 40.1 percent of the placements. This would be record high in CattleFax data which would go back to the mid 1970’s.

§    April fed cattle slaughter was up 4 percent on a weekly average basis and with the additional day in April, total fed slaughter for the month was up 9 percent; the largest April fed slaughter since 2003.

§    Cattle-Fax estimates supplies to peak by late June.  Supplies should decline slightly in July. Declining fed supplies from June to July is opposite of the seasonal trend. Typically, supplies grow from June to a peak in July.  Past June, fed supplies are currently forecast to decline.

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